Kinetik (NYSE:KNTK) Insider Sells $151,176.24 in Stock

Key Points

• Insider sale: Director Matthew Wall sold 3,222 shares on March 4 at an average of $46.92 for $151,176, trimming his position by 0.55% to 585,556 shares (still worth ~ $27.47M); he also sold 8,083 shares on Jan. 2 at $36.05.
• Earnings beat: Kinetik reported $2.16 EPS for the quarter versus a $0.15 estimate and revenue of $430.4M (up 11.5% year-over-year), though the company shows a negative return on equity of 32.7%.
• Market view: Shares traded around $45.57 (52-week range $31.33–$54.94) with a $7.36B market cap, and analysts hold a consensus rating of "Hold" with a $45.55 target amid mixed upgrades/downgrades.

Kinetik Holdings Inc. (NYSE:KNTK - Get Free Report) insider Matthew Wall sold 3,222 shares of the firm's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $46.92, for a total value of $151,176.24. Following the completion of the sale, the insider directly owned 585,556 shares in the company, valued at approximately $27,474,287.52. The trade was a 0.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Matthew Wall also recently made the following trade(s):

• On Friday, January 2nd, Matthew Wall sold 8,083 shares of Kinetik stock. The stock was sold at an average price of $36.05, for a total transaction of $291,392.15.

Kinetik Stock Performance

Kinetik stock traded down $0.16 during mid-day trading on Friday, hitting $45.57. 974,173 shares of the company traded hands, compared to its average volume of 1,479,206. Kinetik Holdings Inc. has a one year low of $31.33 and a one year high of $54.94. The stock has a market cap of $7.36 billion, a price-to-earnings ratio of 17.73, a price-to-earnings-growth ratio of 1.11 and a beta of 0.70. The stock has a fifty day moving average price of $40.62 and a 200-day moving average price of $39.07.

Kinetik (NYSE:KNTK - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $0.15 by $2.01. The firm had revenue of $430.42 million for the quarter. Kinetik had a net margin of 29.23% and a negative return on equity of 32.70%. The business's quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.01 EPS.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Chickasaw Capital Management LLC boosted its holdings in shares of Kinetik by 63.9% during the third quarter. Chickasaw Capital Management LLC now owns 1,098,447 shares of the company's stock worth $46,948,000 after purchasing an additional 428,103 shares during the period. Public Sector Pension Investment Board purchased a new stake in Kinetik in the 3rd quarter worth approximately $7,277,000. Dynamic Technology Lab Private Ltd grew its position in shares of Kinetik by 86.9% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 17,360 shares of the company's stock worth $765,000 after buying an additional 8,070 shares during the last quarter. Fort Washington Investment Advisors Inc. OH grew its position in shares of Kinetik by 90.5% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 61,695 shares of the company's stock worth $2,637,000 after buying an additional 29,303 shares during the last quarter. Finally, Eagle Global Advisors LLC increased its stake in shares of Kinetik by 70.7% during the third quarter. Eagle Global Advisors LLC now owns 449,980 shares of the company's stock valued at $19,232,000 after buying an additional 186,444 shares during the period. Institutional investors own 21.11% of the company's stock.

Analyst Upgrades and Downgrades

KNTK has been the subject of several research reports. Zacks Research lowered Kinetik from a "hold" rating to a "strong sell" rating in a research note on Monday, January 5th. Wolfe Research cut shares of Kinetik from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, January 27th. Wall Street Zen raised shares of Kinetik from a "sell" rating to a "hold" rating in a report on Saturday, February 28th. Raymond James Financial set a $46.00 target price on shares of Kinetik in a research report on Monday, January 5th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Kinetik in a research note on Thursday, January 22nd. Six investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $45.55.

Kinetik Company Profile

Kinetik NYSE: KNTK is a publicly listed midstream energy company focused on the development, operation and management of natural gas infrastructure across the United States. The company's core business activities include the gathering, compression, processing, storage and transportation of natural gas, serving producers, utilities and industrial consumers. By integrating a suite of midstream services under a single platform, Kinetik aims to provide efficient, cost-effective and reliable solutions across the natural gas value chain.

The company was established in 2021 when assets were acquired from Talen Energy by a subsidiary of ArcLight Capital Partners, forming a comprehensive portfolio of pipelines, compression facilities and underground storage assets.

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